Name of the Project
Epanko graphite project.

Location
Tanzania.

Project Owner/s
Duma TanzGraphite will develop and operate Epanko, with an 84% interest held by EcoGraf  (formerly Kibaran Resources) and a 16% free-carried interest held by the Tanzania government.

Project Description
EcoGraf has released the outcome of a predevelopment programme on the project in April 2023 to build on the extensive bankable feasibility study (BFS) completed in 2017.

The predevelopment programme has increased production from 60 000 t/y in the 2017 BFS to 73 000 t/y in the “oxide first” strategy.

The project is forecast to expand over time to meet the growing market demand for battery graphite and is expected to operate for 40 to 50 years.

Epanko has the potential to be expanded to 300 000 t/y of production, based on an assessment of current mineral resources estimated at 128.2-million tonnes grading 7.4% total graphitic carbon over an 18-year mine life.

Potential Job Creation
The project is expected to employ about 300 Tanzanians and will create up to 4 500 indirect jobs through the local supply of goods and services.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of $211-million and an internal rate of return of 38.9%, with a 3.4-year payback in the 2017 BFS. The predevelopment programme estimates a pretax net present value, at a 10% discount rate, of $348-million and an internal rate of return of 36%.

Capital Expenditure
Preproduction capital has increased from $88.9-million in the 2017 BFS to $134-million in the predevelopment study.

Planned Start/End Date
Not stated.

Latest Developments
In the quarter ended December 31, 2023, processing started on a 40 t bulk sample from Epanko to provide feedstock for the EcoGraf HFfree product qualification facility programme, in Australia. The programme is expected to be commissioned during the first quarter of the 2024 financial year.

In January 2024, the German government confirmed Epanko’s eligibility for cover, in principle, for the untied loan guarantee (UFK) scheme, based on the support of German offtakers. KfW IPEX-Bank mandated for a UFK loan of up to $105-million for the development of the project.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
EcoGraf, tel +61 8 6424 9000 or email info@ecograf.com.au.